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CMMB Vision Holdings Ltd Announces Placing Of New Shares Under General Mandate


Thursday, 15 Aug 2013 09:00am EDT 

CMMB Vision Holdings Ltd announced that on August 15, 2013, the Company has entered into the Subscription Agreements with the Subscribers for the subscription of an aggregate 52,000,000 new Shares for an aggregate consideration of HKD24,180,000 at the Subscription Price of HKD0.465 per Subscription Share. The Subscription Shares of 52,000,000 new Shares represent approximately 7.88% of the existing issued share capital of the Company and approximately 7.31% of its enlarged share capital. The Subscription Shares will be issued under the General Mandate and will rank equally with the existing Shares. The Directors consider that it is in the interests of the Company to raise capital from the equity market in order to maintain the cashflow position of the Group and to enhance the capital base of the Company. The Company will use the estimated net proceeds of the Subscription as general working capital. The Directors (including the independent non-executive Directors) consider the terms of the Subscription Agreements and the Subscription Agreements to be fair and reasonable and are in the best interests of the Company, as far as the Shareholders are concerned. 

Company Quote

0.285
0.0050 +1.79%
19 Dec 2014